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Dec 28, 2012
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maybe you can finger the fiscal cliff here. >> absolutely. the housing market is improving. that is actually something that should really support the economy going into next year. so the potential growth rate, if we were not talking about fiscal cliff or any adjustment at all would probably be quite high, higher than we've seen over the last years. could be in the rake of 3%. plus, that confidence impact that these negotiations are likely to have, and that means that the u.s. economy is still going to grow at relatively mediocre rate of probably 2% next year. that's our view. >> timothy geithner here in the past couple of days talking about the debt ceiling and what could be done to try to move that forward in a stable manner if you would. there's no way around it, right? do you think that's taken kind of a bargaining chip away from the fiscal cliff negotiations? >> there seems to be some politics behind this announcement right now as we hit the ceiling. as you make the calculations, it seemed to me as if they were only going to hit the ceiling in february or march next year
maybe you can finger the fiscal cliff here. >> absolutely. the housing market is improving. that is actually something that should really support the economy going into next year. so the potential growth rate, if we were not talking about fiscal cliff or any adjustment at all would probably be quite high, higher than we've seen over the last years. could be in the rake of 3%. plus, that confidence impact that these negotiations are likely to have, and that means that the u.s. economy is...
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Dec 27, 2012
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the house has already acted on a bill to avert the fiscal cliff. democrats have no intention of taking up that house bill, which would extend all of the tax cuts into 2013. the approximated says he's not going to do that. plus a senate democrat leader told me there is a possibility of extending tax cuts for those under $250 thoid, but turning off the automatic across the board budget cuts. that will be a temporary measure. and finally, president obama has returned from his vacation in hawaii to try to kick start those talks. but the white house officials tell me there are no signs of progress yet. they have to hope that when members come back to washington on the 27th, that is thursday wblg that both the president, democrats in the senate, republicans in the senate and then both parties in the house can come together on at least a short-term deal. back to you. >> a short-term deal. joining us now is tim stanley, a u.s. historian at oxford university. welcome. >> good morning. >> we've been following this together for the last several months. how do
the house has already acted on a bill to avert the fiscal cliff. democrats have no intention of taking up that house bill, which would extend all of the tax cuts into 2013. the approximated says he's not going to do that. plus a senate democrat leader told me there is a possibility of extending tax cuts for those under $250 thoid, but turning off the automatic across the board budget cuts. that will be a temporary measure. and finally, president obama has returned from his vacation in hawaii to...
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Dec 26, 2012
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to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers
to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s....
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Dec 31, 2012
12/12
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regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk specifically about municipal debt which has been one of the areas that perhaps has been under cover but has seen an impact as the fiscal cliff approaches. congress may be able to avoid the starry cliff. they're set to temporarily extend the u.s. farm bill. the move would keep a long dormant milk subsidy from coming back to life when the current bill expires today. under a new law, the milk could be forced at prices well above what farmers are getting now if that subsidy was pushed aside. let's get a look at what's on the agenda this week in the u.s. there is no data out today and markets will put in a full
regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk...
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Dec 24, 2012
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lawmakers are pointing fingers after a lack of progress in talk toes avoid the fiscal cliff with a deadline looming just a week away. on friday, president obama said he still hoped to work out a short-term fix with house speaker john boehner to keep taxes for 98% of americans from going up on the first of january. but both sides, though, they're not talking and congress is in recess until after christmas. some democrats are still hopeful that a deal can be reached, but the republicans, they're not holding out hope. >> i would hope that we would have one last attempt here to do what everyone knows needs to be done, which is the larger plan that really does stabilize the debt and get us moving in the right direction. >> if we go down to the end of this year and the only choice we have is to save taxes going up on the middle class, then i would support that. but i wish we would have a comprehensive bill that dealt with spending, dealt with entitlements and dealt with taxes altogether. >> i believe the president is eager to go over the fiscal cliff as he senses a victory at the bottom of the cl
lawmakers are pointing fingers after a lack of progress in talk toes avoid the fiscal cliff with a deadline looming just a week away. on friday, president obama said he still hoped to work out a short-term fix with house speaker john boehner to keep taxes for 98% of americans from going up on the first of january. but both sides, though, they're not talking and congress is in recess until after christmas. some democrats are still hopeful that a deal can be reached, but the republicans, they're...